The DC Today - Monday, August 7, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 7 August 2023
⏱️ 12 minutes
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Summary
Today's Post - https://bahnsen.co/3Yoorda
Greetings from New York City (again). Lots of fun stuff today in my favorite DC Today of the week – the Monday edition (I love Mondays for so many reasons).
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:15.3 | Well, hello, welcome to the Monday edition of DC Today, my favorite day for DC Today. We're actually, I'm just going to |
| 0:22.8 | record here from my desk at my New York office rather than walk into the studio because we're already |
| 0:28.3 | running late. So we're going to do this down and dirty. But there's a lot of information there |
| 0:33.5 | today. And the written version at the DC Today.com will give you all the goodies. |
| 0:41.5 | In terms of the markets, we'll get that out of the way first. |
| 0:44.6 | The Dow was up over 400 points, about 1.1%. |
| 0:48.7 | The futures were up last night, about 50 points when I was on the plane coming into New York |
| 0:55.3 | and had gotten up as much as about 75. |
| 1:00.2 | Early, early this morning, they kind of were in that range, something between 50 |
| 1:04.7 | and 100 points pre-market. |
| 1:06.6 | Then we opened up 200 and then it just sort of steadily went up throughout the day. |
| 1:12.2 | So you just, you know, I think have positive earnings environment, a lot of Goldilocks type data that is in that sort of not too hot, not too cold camp. |
| 1:23.2 | And market participants seem to be liking it. |
| 1:26.2 | Although today was, even though communication services |
| 1:28.7 | was the higher performing sector, the Dow substantially about doubled what the NASDAQ had done. |
| 1:36.6 | So it wasn't just on the junkier side of markets and financials did quite well today as well. |
| 1:42.4 | Only sector was down as utilities and they were flat on the day. |
| 1:45.7 | They were down two basis points. |
| 1:48.1 | So big risk on. |
| 1:50.5 | I want to give you, let's see, the 10-year bond was up three basis points today. |
| 1:56.3 | I think we're about 4.09%. |
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